Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
PXRE Heads Towards Run-off
Aug 9 2006 // The Bermuda-based PXRE Group Ltd. reported its results for the second quarter of 2006, and further indicated that, barring some last minute “strategic alternative,” it is heading towards runoff. PXRE was...
Allied World Q2 Net up 43% to $102.4 Million; Conference Call Today
Aug 9 2006 // Allied World Assurance Company Holdings, Ltd. joined the many Bermuda-based insurers, who have turned in strong second quarter and first half results. The Company reported net income of $102.4 million, or $2.02 per diluted...
Hawaii Seeking Comments on Hurricane Retrofits
Aug 9 2006 // Hawaii Insurance Commissioner Jeffrey Schmidt is preparing to establish a program to provide grants for hurricane retrofits, otherwise known as wind resistive devices. The draft performance specifications for the wind...
Marine market responds to stressed property coverage demand
Aug 7 2006 // A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” Indeed, the stark headline in the July 10 article mirrors the market reality: There is a severe lack...
Marine market responds to stressed catastrophic property coverage
Aug 7 2006 // A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” Indeed, the stark headline in the July 10 article mirrors the market reality: There is a severe lack...
It figures
Aug 7 2006 // 100 The number of federal lawmakers from both parties that asked the Federal Deposit Insurance Corp. to put a hold on the efforts of various U.S. companies, including Wal-Mart, to open banks. Federal bank regulators halted...
Julie Benafield Bowman
Aug 7 2006 // Like insurance commissioners in other states, Arkansas Insurance Commis-sioner Julie Benafield Bowman, is keeping an eye on catastrophe issues and the availability of insurance related to them. Unlike commissioners in...
Marine market responds to stressed catastrophic property coverage
Aug 7 2006 // A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” Indeed, the stark headline in the July 10 article mirrors the market reality: There is a severe lack...
Excess flood insurance — when the federal plan isn’t sufficient
Aug 7 2006 // The lessons learned from Katrina and Rita and predictions of a future with bigger and stronger storms highlight more than ever the importance of flood insurance, even in locations where it was previously thought...
Florida offers grants to encourage hurricane damage mitigation
Aug 7 2006 // Florida’s Department of Financial Services is working out the details of a program offering grants of up to $5,000 to homeowners who take steps to mitigate hurricane damages. Individual matching grants of up to...
Fighting future losses in the midst of fire season
Aug 7 2006 // With 68,775 blazes already this year, the 2006 wildfire season is well on its way to becoming the worst in 10 years, according to the National Interagency Fire Center (NIFC). Its data shows 5.03 million acres have burned,...
Marine market responds to stressed catastrophic property coverage
Aug 7 2006 // A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” Indeed, the stark headline in the July 10 article mirrors the market reality: There is a severe lack...
Insuring energy risks for profit isn’t getting any easier
Aug 7 2006 // Recent experiences need to be translated into quality underwriting standards for the future Underwriting energy risks is not for the faint-hearted, even during the best of times. The nature of these risks (with high...
Wagging the dog
Aug 7 2006 // Reinsurance woes send primary carriers scrambling Until recently the reinsurance world was a galaxy far, far away. That changed after the 2000 stock market crash, the Sept. 11 attacks and, more recently, the hurricanes...
Is the U.S. prepared for a cyber catastrophe? Business executives say, ‘no’
Aug 7 2006 // Testifying before a Senate Homeland Security and Government Affairs Subcommittee, Karl Brondell of State Farm Insurance Companies warned that the U.S. is not adequately prepared for a cyber catastrophe. The insurance...
Congressional hearing held on terrorism and insurance
Aug 7 2006 // Agents, risk managers and insurers press Congress for long-term TRIA solution Two U.S. House subcommittees–the Committee on Financial Services, Subcommittee on Oversights and Investigation, and the Homeland Security...
Figures
Aug 7 2006 // 100 The number of federal lawmakers from both parties that asked the Federal Deposit Insurance Corp. to put a hold on the efforts of various U.S. companies, including Wal-Mart, to open banks. Federal bank regulators halted...
Julie Benafield Bowman, Arkansas, Commissioner of Insurance
Aug 7 2006 // Like insurance commissioners in other states, Arkansas Insurance Commis-sioner Julie Benafield Bowman, is keeping an eye on catastrophe issues and the availability of insurance related to them. Unlike commissioners in...
Marine market responds to stressed catastrophic property coverage
Aug 7 2006 // The marine market, although not immune to severe weather and other catastrophic occurrences, has not suffered to the extent of the mainline commercial property sector. A recent Wall Street Journal story proclaimed,...
Fighting future losses in the midst of fire season
Aug 7 2006 // With 68,775 blazes already this year, the 2006 wildfire season is well on its way to becoming the worst in 10 years, according to the National Interagency Fire Center (NIFC). Its data shows 5.03 million acres have burned,...
